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Dec 24, 2012
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offer to increase taxes on top 2%, whether 400,000 or 500,000 and of some small spending changes. that seems to be all anybody is talking about right now. that may be all that we can get through. plan c seems to be the original plan a at this point. >> we are making our way through the alpha bet. thank you, guys. merry christmas, all. >> merry christmas. >> see you later. >> let's get to the nasdaq marketsite. seema mody. >> weighing here on the nasdaq on large cap tech shares, take a look at dell shares moving lower. research in motion continuing its plunge after losing roughly 20% on friday with concerns aroundity revenue service model being the key issue there. aside from that, a biotech stock on the move, a small cap but as you see a commendable run over the past six months, gaining 70%. investors piling in, in anticipation of approval. today they got that approval. however the cholesterol lowering drug will contain a boxed warning citing risk of liver toxicity. perhaps that's a reason we are 150eing that stock move lower. on to bright spots, if you can believe it, facebook, b
offer to increase taxes on top 2%, whether 400,000 or 500,000 and of some small spending changes. that seems to be all anybody is talking about right now. that may be all that we can get through. plan c seems to be the original plan a at this point. >> we are making our way through the alpha bet. thank you, guys. merry christmas, all. >> merry christmas. >> see you later. >> let's get to the nasdaq marketsite. seema mody. >> weighing here on the nasdaq on large cap...
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Dec 26, 2012
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dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colo
dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us....
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Dec 28, 2012
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but if we were focusing on entitlement reform or spending or any of the big issues, joe, then obama couldn't get his base to -- so it's awo-way street we got going. >> takes two to tango. if he could have gotten inside together we might have had a shot of getting this done. sadly this is kind of like watching a last-place football team in a two-minute hurry up offense inside the red zone. you know they're going to blow it. all they do is kick a field goal and they can't get that done. this is so unfortunate but it's not going to get done. i agree with jimmy, it's not looking good at all. i'd like to be hopeful. i'd like to be optimistic. it looks like they're going to blow it. >> jimmy, did you watch harry reid yesterday? i mean, did -- i guess mcconnell was bad, too. is there something about harry, is that a song or something? >> mary. >> something about mary. >> your hair. >> sadly, joe, i did watch it, bee i'hate ink. but, yes, i watched the tennis match between the two senate leaders and that is -- that is par normal for the senate these days. when i worked there, they would do exactly t
but if we were focusing on entitlement reform or spending or any of the big issues, joe, then obama couldn't get his base to -- so it's awo-way street we got going. >> takes two to tango. if he could have gotten inside together we might have had a shot of getting this done. sadly this is kind of like watching a last-place football team in a two-minute hurry up offense inside the red zone. you know they're going to blow it. all they do is kick a field goal and they can't get that done....
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Dec 24, 2012
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president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation measure for social security but that is still the one on the table. then there is the alternatives. the house passing that existing senate bill that's out there that would raise taxes on the top 2%. that doesn't include sequestration though. sequestration could happen so they have to either let it happen or insert some kind of stop-gap in there. the other one of course is just literally to extend everything for another month. extend all the cuts to the end of january and simply delay sequestration and of course that is the least desirable but that may be in fact the one that happens right now. let's move on and show you the market is still not very worried about it. the five-month high on an intraday basis on friday but still staying within that trading range that has been in for a while now. not really busting out above 20. if we stayed out above 20 then you could have people sa
president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation measure for social security but that is still the one on the table. then there is the alternatives. the house passing that existing senate bill that's out there that would raise taxes on the top 2%. that doesn't include sequestration though. sequestration could happen so they have to...
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Dec 27, 2012
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on the table was $1.4 trillion in higher taxes over ten years, and $800 billion in lower spending. that's taking a lot of liquidity out of the economy. >> okay, barry, last question here. fill in the blanks for me. if we hold x, then this correction will not happen. >> if we hold, i mean, key support level certain little on the s&p 500. look for 1400, would be a key support level to hold there. we'd want to bounce back up. but what you really would be looking for, i showed on the charts, key resistance levels. what you really want to see, we have not been able to break above those resistance levels. you need to break above those resistance levels very convincingly if you're going to convince me there's going to be a rally in 2013. >> barry, thank you, joining us tonight from miami. >> thank you. >> you look what barry has to say? >> i think you should get a correction here. >> do you like the notion of the presidential cycles? >> i look more, you know, so, you're dealing right now, there are so many headlines out there and you are trying to decipher what's important, if you are foc
on the table was $1.4 trillion in higher taxes over ten years, and $800 billion in lower spending. that's taking a lot of liquidity out of the economy. >> okay, barry, last question here. fill in the blanks for me. if we hold x, then this correction will not happen. >> if we hold, i mean, key support level certain little on the s&p 500. look for 1400, would be a key support level to hold there. we'd want to bounce back up. but what you really would be looking for, i showed on...
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Dec 28, 2012
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it's about spending. it's about the debt and when the president's proposal, original proposal would produce, what, about $80 billion next year? that would just cover the incremental increase in interest costs on our debt. we're avoiding the truth. we're avoiding the reality and that's why a lot of us are very cranky about some of the let's do a patch work, let's push it off into the future because we're going to crash and burn under our own debt. >> if you're cranky, think about how the american public feels right now, congressman. they are very cranky that you folks have not been able to make any seeming head way, either on the spending side, which i agree with you is the truly important one that we have to address. >> exactly. >> or on the tax side. but nobody seems to have moved this ball very far forward unless i and everybody else is missing a heck of a lot. on the spending side, what precise specific spending cuts would you like to see and could you buy into, any spending cuts of the defense establi
it's about spending. it's about the debt and when the president's proposal, original proposal would produce, what, about $80 billion next year? that would just cover the incremental increase in interest costs on our debt. we're avoiding the truth. we're avoiding the reality and that's why a lot of us are very cranky about some of the let's do a patch work, let's push it off into the future because we're going to crash and burn under our own debt. >> if you're cranky, think about how the...
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Dec 26, 2012
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united stat states -- spending cuts we are enacted by the house they voted for. >> the obama deficit. >> you cannot point to democrats and say you're not supporting spending cuts, rite in the president's offer. what you don't understand, i think, is that boehner won't bring this stuff to a vote because he knows the majority of house members, democrats and republicans combined actually want to support a deal as those 200 plus ceos want. what he's doing is political self-preservation, he thinks, because if he doesn't get a majority of his majority under the old gingrich practice, he thinks he will lose his speakership. the country should come first and boehner should bring it to a vote and if he doesn't, he should not be speaker of the house. >> where is the hunt over the next few days for compromise. if you think it's doable, maybe david won't be happy with it but happy enough. >> probably exactly what we've always been talking about, taxes for $250,000 and above and serious spending cuts and any promise on either the debt ceiling and/or medicare. >> do we get a promise on the debt ce
united stat states -- spending cuts we are enacted by the house they voted for. >> the obama deficit. >> you cannot point to democrats and say you're not supporting spending cuts, rite in the president's offer. what you don't understand, i think, is that boehner won't bring this stuff to a vote because he knows the majority of house members, democrats and republicans combined actually want to support a deal as those 200 plus ceos want. what he's doing is political self-preservation,...
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Dec 26, 2012
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you can't cut spending your way out of this. you can't grow your way out of this. >> another 2 million people will lose their jobs. unemployment will go to over 9%. why would you do that? >> president obama is meeting with high profile chief executive officers today. >> we don't legislate but we know a lot about the consequences of failing to reach an agreement. >> we're here to support putting america back to work. >> we have to make sure that taxes don't go up on middle class families, that we're creating jobs. >> it's time for the president and democrats to get serious about the spending problem that our country has. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> how about we stop all the press conferences, statements, speeches. stop the personal and political attacks. >> people have a lot of different views. i'm willing to compromise a little bit. >> the president keeps opening doors for the speaker to go through and the action that the speaker announced, he is slamming the door in the p
you can't cut spending your way out of this. you can't grow your way out of this. >> another 2 million people will lose their jobs. unemployment will go to over 9%. why would you do that? >> president obama is meeting with high profile chief executive officers today. >> we don't legislate but we know a lot about the consequences of failing to reach an agreement. >> we're here to support putting america back to work. >> we have to make sure that taxes don't go up on...
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Dec 27, 2012
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president obama ran not on spending cuts, but on tax increases for the wealthy. it's something that's going to happen next monday anyway or tuesday regardless of whether the president does anything or there's a deal or not. because it's just going to expire. >> he's known that all along. >> but the republicans ran on spending cuts. so they're the ones that ran on this. why don't they put up their spending cuts? the president didn't run on that. and the irony is when he did mention spending cuts, $716 billion in medicare cuts during the campaign, mitt romney and paul ryan and all the republicans, who wanted to do the exact same thing he did, they jumped on his case for proposing cuts to medicare. so how can you negotiate with a party that isn't serious about its own caucus, and isn't capable of controlling them and doesn't have a serious plan for dealing with spending cuts on its own, because it's afraid to take the heat? nobody wants to cut spending. let's just admit that. but if we're going to do it, somebody's got to take the heat and the republicans have been
president obama ran not on spending cuts, but on tax increases for the wealthy. it's something that's going to happen next monday anyway or tuesday regardless of whether the president does anything or there's a deal or not. because it's just going to expire. >> he's known that all along. >> but the republicans ran on spending cuts. so they're the ones that ran on this. why don't they put up their spending cuts? the president didn't run on that. and the irony is when he did mention...
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Dec 24, 2012
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>> i think he thought obama wasn't close enough. it's a couple hundred billion in revenues -- i mean in spending cuts that the president wanted and boehner said i can't believe that. neighbor he couldn't have pulled out because of the same guys that killed plan "b." >> shorter-term it looks like the republicans would feel that brunt politically of us going over the cliff. longer-term if you get into next year and you still have troubles and the economy is still weak, isn't the president taking a big chance here? i mean, do you get any sense that they're overplaying their hand because they won re-election? >> i agree with that. i think they are overplaying their hand a little bit. i think that the president doesn't want to have a second term overshadowed by a recession. which is actually an opportunity to get a few things done, completely over taken by this cliff. he does actually want a deal. i'm not sure he wants to go -- >> it's hard to be mad -- hopefully is, hard to be mad at 60 individual republicans and say i don't like this g
>> i think he thought obama wasn't close enough. it's a couple hundred billion in revenues -- i mean in spending cuts that the president wanted and boehner said i can't believe that. neighbor he couldn't have pulled out because of the same guys that killed plan "b." >> shorter-term it looks like the republicans would feel that brunt politically of us going over the cliff. longer-term if you get into next year and you still have troubles and the economy is still weak, isn't...